Rosenblatt Securities Raises Navitas Semiconductor (NASDAQ:NVTS) Price Target to $6.00

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) had its target price upped by analysts at Rosenblatt Securities from $4.00 to $6.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Rosenblatt Securities' price objective points to a potential upside of 214.14% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC cut their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $2.10 to $1.50 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $3.79.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $1.91 on Thursday. The stock has a fifty day simple moving average of $1.98 and a two-hundred day simple moving average of $2.64. The firm has a market capitalization of $366.35 million, a PE ratio of -4.55 and a beta of 2.24. Navitas Semiconductor has a 52-week low of $1.52 and a 52-week high of $5.95.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The firm had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business's quarterly revenue was down 39.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, sell-side analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Brian Long sold 47,189 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the sale, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. This represents a 60.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now directly owns 684,497 shares of the company's stock, valued at approximately $1,772,847.23. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,877 shares of company stock valued at $349,262 in the last ninety days. Corporate insiders own 31.80% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently added to or reduced their stakes in NVTS. Goodman Financial Corp bought a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $36,000. Caption Management LLC purchased a new stake in Navitas Semiconductor during the 4th quarter valued at $36,000. Tower Research Capital LLC TRC raised its holdings in Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock valued at $37,000 after buying an additional 5,726 shares during the period. Steel Grove Capital Advisors LLC bought a new stake in Navitas Semiconductor in the fourth quarter worth $39,000. Finally, Cibc World Markets Corp purchased a new position in Navitas Semiconductor during the fourth quarter worth $42,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.

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